"Given the trading activity that we are seeing today, thinking yesterday had nothing to do with Warrant activity but more about the shorts doing their thing.  Is it possible they covered yesterday and now are on the buy side of things?"

PTK2018, just to be clear, the bolded part is very unlikely, as if they had covered yesterday, that would have involved them buying and that would have supported the stock price and there was little evidence of that yesterday.  Could shorts be going long today, not impossible, but they also may be covering today.